Graduate Master Mind Meeting

Graduate Master Mind Meeting

Thursday, June 13, 2013

Paul Fernandez’s house

Team Leader - Martel

1. Introduction - Any interesting stories that came across regarding real estate?

1.)Martel – talked about bandit signs, he knew about a landlord who had lots of properties, flew out to one of his properties from out-of-state and decided to check on one of his properties, which was a good rental property that cash flowed, but found it in a ghetto area with graffiti, but decided to leave it alone since it cash flowed so well.

2.)Paul – talked about some bandit signs that went up around Mesa Newport by a café and Bear, and those bandit signs stayed up for a long time.

3.)Michelle – went to a property with her partner in Florida, and partner was covered with fleas.

4.)Sean – his prospect actually foreclosed on the house, carson/long beach area.

5.)Wendy – property in Ontario, mike cantu’s brother went to the seller’s house, man was lying out naked on the couch and was dead apparently for a good period of time.

6.)Donna – best to leave property along if it’s doing well, changes can chase good tenants away.

1. Accomplishments or “Ah ha” moment:

1.)Craig – keep going on, and saw that the weak will fade away, leaving more opportunities available

2.)Wendy – no deals this month, helped someone with blood pressure and cholesterol levels, homemade remedy, Paul’s is high. Give him the recipe.

1. Recipe for high blood pressure and cholesterol

Honey, garlic, apple cider, mix and leave for 15 days, after dinner scoop one tablespoon and eat it. 1 cup of fesh garlic, I cup of pure honey, 3 cups apple cider vider, mix very well, set for 15 days, seal in a jar. Leave it outside. Also good for diabetes, blood pressure. Will take effect in one day, depends on their body. Even drink and mix with juice.

3.)Sam – talking to Tim yesterday, telling about his plans, Tim noted he keeps changing what he’s doing, because so far nothing is working, finding something that will work but not sure how long it will take, Paul suggested to making a plan and sticking to it. Sam makes offers and keep getting rejected, and he is working on a project in Indianapolis, buy house, have two guys work on it,fix it and sell it. Not too much competition in Indianapolis. He can buy a property there for 10k, with rents 500 a side. He needs to look for private or hard money. He’s looking at a couple of properties. Will present on deal

4.)Sean – talked to his insurance agent, has about multi million dollars, working on one in long beach. He has family and friends in thePhillipines. Sean will have some deals and have this guy present it to his contacts. Sean will get together with Matt Owens. Figuring out alignment with next deal.

5.)Manny – welcome back! Went back to school and has summer break, reading books, finding inner self, breakthrough finding his purpose, he did one session with Cappi a long time ago. Michelle’s two session for $500 with Cappi.

6.)Paul – work keeps getting easier and easier, new job is challenge, getting into the groove, gaining mastery over the hardest part, which is Quickbooks. Learning to better multi- task. Motivated him to get backreal estate. Still working on the mailers, using Click to Mail. Customer support line is only open his work hours. He will call in the morning. Learning to read spreadsheet to find discrepancies in his mailings. Keep plugging away and keep eye on his target market. Fengshui practitioner came to his house, he knows he’s stuck, had practitioner come in for two three hours, pamphlet, get it fengshui to clean it up. Back yard is his properitygua, old stuff in shed when he was a painting contractor, get rid of it. Goal this weekend is to clean out corner. $650 charged for practitioner. Dr Janet is booked for two years. And decluttering is part of the process.

7.)Michelle – process of refinancing one of her properties, bought a couple of houses together, debied up responsilbitiies, refi more hopefully.

8.)Donna – take time to think, then plan then execute for efficiency.

9.)Martel – making offers, standard format with repairs, structuring deal, a HUD home, he received a counter, not too far from LP, but his MAO was lower, Sean suggested to keep the door open and ask what price will work with your buyers.

1. Goals and manifestations

1.)Paul – Lost 6 lbs, 1300+ bonus this month, still working on click to mail, out in the morning.

2.)Wendy – loan deal on the way, realesed 5 lbs and 1 inch, no rental yet

3.)Donna – only 250 mailers, one property under contract, hired a house cleaners, yes one free day

4.)Sean – created $1492 created on ebay etc, close on conventional finance in Memphis, should be done week after underwriting, no on one property, went into foreclosure

5.)Martel – did 250 mailers every other week, not yet $30k on check,

6.)Sam – no on sugar mama yet, paul said to put it onCraigslist and onto match.com, plenty of fish per Martel, sell deals in dropbox– no

7.)Michelle – finish reading “invest in debt”, before class 75% only done, has termite in her house, Sean suggested to look locally, might do the chemical way, maybe orange oil good for termites and ants, or orange guard

8.)Craig – submit 10+ offers, do refocus stop being distracted, timeblock your day

9.)Manny – start working on his abs, four times per week

1. New Goals:

1.)Martel – keep marketing every week, bandit and mailers, manifest 10k check.

2.)Donna – do more mailers using bought lists, close one property under contract, get two properties under contract

3.)Michelle – clean email, refi another property, contact info for mortgages

1. Kathleen Kraemer 949-502-3522, per paul,
2. Sean in Memphis Steve Bighaus 425-903-5647, cell 901-598-9458,

4.)Paul – Use Click to Mail to get mailers out, release 5 more pounds, get a deal under contract, get money gua cleaned, new money birth, keep working on fengshui process.

5.)Manny – make 10 offers through mls, read book,“How to solve your money problem”, 150 pounds, $1k check manifest.

6.)Sean – 1k cash flow per month, manifest 8k check for specific reason

7.)Sam – manifest hard money lined up to start process to buy property, manifest keep talking to a girl develop strong ties

8.)Wendy – another check coming $2k month, w/s deal, working on size 3

9.)Craig – get back on gym schedule 5x per week, take one day Sunday to time block a week, get a deal under contract, manifest a rental property in palm springs.

1. Hot Seat:

1.)Sean – working with his insurance person who has contacts with money in the Philipines, should he wholesale versus jv? His main contact is not investor but smart and is a U.S. citizen.

Wendy suggested to bring someone in with a green card, get those interested to invest, ask a lawyer for help, then get 10 jobs lined up with the investment business, then create a payroll on the businessthat you bought, ten get a green card, if you sold your business then green card will not be valid. Show like a payroll business.

Paul take the business and show him into different segments, then break it down into segments in a spreadsheet, pick something from the MLS. Another example, commercial building, restaurant, creates payroll,

Sean asked if anyone has an apartment deal to use as his presentation.

Martel has something that was given to him by a realtor, apartment broken down into right down into the laundry facility. Wendy knows of one in Hollywood, $30k gross income for 6 units. The mortgage is not listed in the mls, it is fsbo. LP is $2.3 mm. Tenants all in place, seller won’t carry. Seller wants cash out.

2.)Sam – how do you structure the paperwork for a hard money loan? Get a property first, 8500 for duplex, and for another. Paul just applied with a company, without a property. He got himself approved and ready for the money. He needs to make some phone calls and ask for referrals, for someone who will fund in his business area. Wendy does private money, trust deeds and a note. Sam needs to call some local banks and ask questions. Sean suggested asking, “I’m looking to rebuild the neighborhood, do you do short term or long terms loans for investors?”

Wants to get rentals and using the income to live and use to pay for expenses. Wendy does 6 months loan for rehab, so ask the bank or lender if they do 3 to 6 months. Wendy takes straight interest.

How much interest pay every month – interest is dependent on loaner and you pay interest every month.

3.)Paul –Click to Mail is his biggest challenge, a service to mail your marketing piece. Michelle will help Paul with his list. Yellow.com is another service, he plans to send out 259, for another area it will have a listing of 89. Absentee owners, not necessarily free and clear. One list is for Yucca valley, and the other is in Mission Viejo. His girlfriend, Cheryl is looking for a house to live in Mission Viejo.

Michelle – automated voice, with live person. Patlive.com is person who answers calls. They charge $25 per month. Do conference calls between members and record to go to each member.

Sean – someone was using or hiring people from retirement homes and gave them a script. Shawn Watkins would go through the home and get to know some people, or Sean’s friend. He picks the sharpest people and spends time with these people.

4.)Paul – Asked the group for their strengths and weaknesses, what they can contribute to the group to bring in more success. Play off of each other’s strengths. Paul doesn’t like to work with spreadsheets. Limited with time, but can be onRedfin looking for properties, he can rehab a property, work on the house, do rehab in 30 days, good on the phone, weak finance end and spreadsheet.

5.)Michelle – time, good with spreadsheet, with numbers, has some money to invest, very organized.

6.)Donna – time is limited and found Craig is available during the day.

7.)Martel – weakness talk to sellers, paying attention to what they are saying, he gets lost in the conversation, records the conversations, listens to it over and over, he calls back, contribution, speaks fluently in Spanish, does marketing though with mailers and bandit signs.

8.)Craig – days free, good credit, good on phone and finding properties

9.)Wendy – weakness being organized, plan and execute, strength is she knows people with lots of connection, reasonable contractor, private money, helping people feel healthier, Chinese, Vietnamese, Spanish, three different dialects in Chinese, Mandarin, Cantonese, Chaonese.

10.)Sam –good on spreadsheet, not a lot of money, has creative ideas, has worked on wholesaling, sees fix n flipping as a means for income out of state. Adapt your planto your market andstick to your plan.

11.)Sean – strength negotiating, trouble shooting, decent at spreadsheet, a lot of private money, family money, really low interest rate, looking for another business partner, 50/50 split, process acquiring to seller financing, unable to do real estate in house, gift is timeto spend with family on weekends. Available to talk with investors, five years, fix in flip, w/s buy holds, creative short sales and financing. Loves to talk.

12.)Manny – good with spreadsheets, numbers guy, weakness is organized, speaks Spanish,

13.)Ruth – weakness is organization, deal with contractors, strength is recognize good deals and structure the deal, still improving.

Ruth’s goals – three in escrow, two willclose, third need to be closed, another in contract needs to be closed in escrow and finish rehab on one.

Deal Review – none

APs

Ruth – donna

Lynn – Steve

Michelle – Sean

Wendy – Nori

Judy Thomas – Sam

Cheryl – Craig

Andres – Karen

Martel – Reine

Sveltana – Tim

Manny and Paul

Honey Badger - Paul is still in the game, still plugging along. Congrats!!!!